Alerts History
* 09-Apr-2018 01:00:00 PM - TELEKOM AUSTRIA CEO SAYS HAS ROUGHLY 1 BLN EUR TO SPEND ON ACQUISITIONS IN EXISTING MARKETS AND NEW ONES
* 09-Apr-2018 01:00:00 PM - TELEKOM AUSTRIA PLANS TO "LOOK EAST" FOR ACQUISITIONS IN NEW MARKETS - CEO
Telekom Austria says looking east for potential acquisitions - Reuters News
09-Apr-2018 01:00:00 PM
(c) Copyright Thomson Reuters 2018. Click For Restrictions - https://agency.reuters.com/en/copyright.html
TELEKOM AUSTRIA-ACQUISITIONS/ (URGENT)
VIENNA, April 9 (Reuters) - Telekom Austria <TELA.VI> has
roughly 1 billion euros ($1.2 billion) to spend on acquisitions
in the countries in which it is already present as well as new
eastern European markets, its Chief Executive Alejandro Plater
said on Monday.
Telekom Austria, the central and eastern European unit of
Mexican tycoon Carlos Slim's America Movil <AMXL.MX>, operates
in seven eastern European countries, most of them in the former
Yugoslavia.
While Telekom has said before that it intends to expand
internationally, the comments are the company's most specific on
those plans in months.
"If you don't expand you will not be relevant," Plater told
an economic reporters' club in Vienna, outlining a range of
priorities.
One priority "is to go to new countries, that's a tactical
move ... We will keep on looking east," he said, without
elaborating on specific countries. "We can do acquisitions for a
billion" euros, without raising additional equity.
Plater said the company planned to "consolidate" in
Croatia, Belarus and Macedonia.
($1 = 0.8148 euros)
(Reporting by Kirsti Knolle and Alexandra Schwarz-Goerlich
Writing by Francois Murphy)
((francois.murphy@thomsonreuters.com; +43 1 531 12 254;))
nL8N1RM29N
(C) Thomson Reuters 2018. All rights reserved. The Thomson Reuters content received through this service is the intellectual property of Thomson Reuters or its third party suppliers. Republication or redistribution of content provided by Thomson Reuters is expressly prohibited without the prior written consent of Thomson Reuters, except where permitted by the terms of the relevant Thomson Reuters service agreement. Neither Thomson Reuters nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world.